Breaking News Bar
updated: 12/28/2012 8:15 PM

East St. Louis casino now employee-owned

hello
Success - Article sent! close
 
Associated Press

EAST ST. LOUIS, Ill. -- The 700 employees of an East St. Louis casino now own the company.

The Casino Queen Hotel and Casino is operating as an employee stock ownership plan following approval last week from the Illinois Gaming Board.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

The $170 million acquisition creates a trust for the participating employees, who are eligible for shareholder dividends. The employees took on the casino's $31 million debt as part of the deal.

Casino President Jeff Watson says he knows of no other casino in the nation operating as an ESOP.

The Casino Queen opened in 1993 along the riverfront in East St. Louis. It attracts nearly 2 million visitors a year.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here